Fmr LLC Purchases 510,873 Shares of Pembina Pipeline Co. (NYSE:PBA)

Fmr LLC lifted its stake in shares of Pembina Pipeline Co. (NYSE:PBA) (TSE:PPL) by 1,396.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 547,448 shares of the pipeline company’s stock after buying an additional 510,873 shares during the period. Fmr LLC’s holdings in Pembina Pipeline were worth $22,573,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PBA. Toronto Dominion Bank boosted its position in shares of Pembina Pipeline by 97.2% during the second quarter. Toronto Dominion Bank now owns 8,938,488 shares of the pipeline company’s stock valued at $331,439,000 after buying an additional 4,405,792 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Pembina Pipeline by 56.9% during the second quarter. Canada Pension Plan Investment Board now owns 8,387,525 shares of the pipeline company’s stock valued at $311,142,000 after buying an additional 3,043,200 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Pembina Pipeline by 71.6% during the third quarter. The Manufacturers Life Insurance Company now owns 3,163,711 shares of the pipeline company’s stock valued at $130,501,000 after buying an additional 1,319,709 shares during the last quarter. Intact Investment Management Inc. boosted its position in shares of Pembina Pipeline by 83.2% during the third quarter. Intact Investment Management Inc. now owns 1,976,934 shares of the pipeline company’s stock valued at $81,498,000 after buying an additional 897,940 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Pembina Pipeline by 2,256.3% during the second quarter. Clearbridge Investments LLC now owns 649,778 shares of the pipeline company’s stock valued at $24,094,000 after buying an additional 622,202 shares during the last quarter. Hedge funds and other institutional investors own 55.37% of the company’s stock.

Pembina Pipeline Stock Down 0.4 %

Shares of NYSE PBA opened at $39.27 on Tuesday. Pembina Pipeline Co. has a one year low of $32.39 and a one year high of $43.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.65 and a quick ratio of 0.51. The business’s fifty day moving average price is $41.86 and its 200-day moving average price is $39.63. The stock has a market capitalization of $22.80 billion, a PE ratio of 16.23 and a beta of 1.24.

Pembina Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Pembina Pipeline’s previous quarterly dividend of $0.50. Pembina Pipeline’s dividend payout ratio is currently 84.30%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PBA shares. UBS Group started coverage on Pembina Pipeline in a research report on Wednesday, September 11th. They issued a “neutral” rating on the stock. Citigroup boosted their price objective on Pembina Pipeline from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 28th. Finally, Raymond James started coverage on Pembina Pipeline in a research report on Friday, October 11th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Pembina Pipeline presently has an average rating of “Hold” and an average price target of $56.50.

About Pembina Pipeline

Pembina Pipeline Corporation provides energy transportation and midstream services. It operates through three segments: Pipelines, Facilities, and Marketing & New Ventures. The Pipelines segment operates conventional, oil sands and heavy oil, and transmission assets with a transportation capacity of 2.9 millions of barrels of oil equivalent per day, the ground storage capacity of 10 millions of barrels, and rail terminalling capacity of approximately 105 thousands of barrels of oil equivalent per day serving markets and basins across North America.